Chemicals And Materials MarketSize and Trends

Chemicals & Materials Market Outlook – Surge in Electronics and Construction Chemicals Industries Augmenting Market Growth

Increasing demand for electronic devices across the globe, especially in key regions such as North America, Asia Pacific and the Middle East, is driving demand for electronic chemicals. Electronic chemicals such as PCB laminate, silicon wafer, specialty gases, and wet chemicals are widely used in a wide number of electronic applications such as computers, electronic circuit, diodes, capacitors, home appliances, and entertainment systems. Asia Pacific contributes the largest share in electronics market, which is the largest end-user segment for electronic chemicals. Countries in the region that boost market growth include China, Japan, Taiwan, South Korea, and India. However, the markets in North America and Europe are expected to witness slower growth rate over the forecast period.

Construction chemicals are chemicals used to enhance the quality of the structure by providing resistance against dry heat and wet climate, and protection against fire. Population explosion in countries such as India and China, along with rapid economic growth in these countries, has fueled demand for infrastructure and construction, in turn increasing the number of infrastructural development activities. This, in turn, creates a highly conducive environment for growth of the chemicals and materials market. Growing urbanization, lends demand for construction chemicals such as concrete admixtures, adhesives, and sealants, in turn, fueling growth of the chemicals and materials market. North America and Europe markets are expected to witness moderate growth rate, due to stagnant economy of the developed countries. However, the market in the Middle East is expected to witness significant growth due to high investment in infrastructure development and abundant raw materials reserves within the region.